Just what is an independent director? Normally, this would mean a member of the board of directors of a company who brings a unique, unbiased perspective. Know more:
JUST what is an independent director? Normally, this would mean a member of the board of directors of a company who brings a unique, unbiased perspective.
Not all corporations are required to have independent directors and under Section 22 of the Revised Corporation Code and Securities and Exchange Commission Memorandum Circular 16 only certain corporations are required to have independent directors such as issuers of registered securities to the public, public companies with assets of at least fifty million pesos, listed companies in the PSE, finance companies, investment companies and houses, brokers and dealers of securities, pre-need...
In most cases, the compensation and fees received by independent directors are quite substantial and the main business objective of maximization of shareholder wealth is not always consistent with the ideals of an independent director. Perhaps there is no such thing as an independent director since they too have a vested interest.